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Trey chats with billionaire entrepreneur and investor, Mr. Andrew Wilkinson. They discuss various topics, including self-care and parenting, as well as exciting deals he collaborated on with Bill Ackman and Howard Marks.Andrew is the co-founder of Tiny, which has been called the Berkshire Hathaway of Tech companies. Andrew turned his first business, MetaLab, into a not-so-tiny conglomerate in a similar fashion to how Buffett turned an old textile mill into the juggernaut Berkshire is today.IN THIS EPISODE, YOU'LL LEARN:0:00 - Intro04:50 - The philosophies behind Tiny and how it operates.10:49 - How he partnered up with Bill Ackman and Howard Marks on some exciting deals.30:07 - Andrew’s insights from his conversations with Warren Buffett and Charlie Munger.35:56 - What it means to set “Anti-goals”. 54:03 - The art and science of self care, de-stressing and delegation.59:00 - Andrew’s thoughts on parenting, philanthropy, entrepreneurship, investing and a TON of amazing resources.Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.BOOKS AND RESOURCESHow to Get Rich: One of the World's Greatest Entrepreneurs Shares His Secrets by Felix Dennis.Khan Academy Website.The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It by Michael E. Gerber.The Dhandho Investor: The Low-Risk Value Method to High Returns by Mohnish Pabrai.Tao of Charlie Munger: A Compilation of Quotes from Berkshire Hathaway's Vice Chairman on Life, Business, and the Pursuit of Wealth with Commentary by David Clark.Influence, New and Expanded: The Psychology of Persuasion by Robert B. Cialdini.The Psychology of Human Misjudgment by Charlie Munger Audiobook.Tiny Website.Trey Lockerbie's Twitter.Andrew Wilkinson's Twitter.NEW TO THE SHOW?Check out our We Study Billionaires Starter Packs.Browse through all our episodes (complete with transcripts) here.Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSHave peace of mind knowing River holds Bitcoin in multi-sig cold storage with 100% full reserves.If you’re aware you need to improve your bitcoin security but have been putting it off, Unchained Capital's Concierge Onboarding is a simple way to get started—sooner rather than later. Book your onboarding today and at checkout, get $50 off with the promo code FUNDAMENTALS.Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with EquityMultiple.Get the professional support you need to prepare for your future career with UBC Sauder School of Business.What does happen when money and big feelings mix? Tune in to find out on the new podcast, Open Money, presented by Servus Credit Union.Set, track, and manage your financial goals as your life evolves with Scotia Smart Investor.Make connections, gain knowledge, and uplift your governance CV by becoming a member of the AICD today.Let an expert do your taxes from start to finish so you can relax with TurboTax.Apply for the Employee Retention Credit easily, no matter how busy you are, with Innovation Refunds.Have Commonwealth Private's Private Bankers take the time to understand your goals and tailor solutions that create less for you to do and more for you to enjoy.Support our free podcast by supporting our sponsors.HELP US OUT!Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Preston Pysh interviews Alfonso Peccatiello, better known as Macro Alf, to talk about how the banking system works, what might come next with the spreading global impairment, and what it might mean for Bitcoin and other asset classes.  IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 01:25 - Global perspectives and insights. 05:28 - The impact of immediate withdrawals on banks' cash reserves. 11:49 - Twitter debates: QE returns or not? 11:49 - Dispelling Bitcoiners' mistrust in the banking system. 28:43 - Piecing together the European inflation & bond yield puzzle. 34:52 - Predicting the 10YR-2YR inversion's future. 34:52 - Shadow banking and insurance companies under the microscope. 42:58 - Real estate and REITs in times of high debt and interest rates. 42:58 - Examining inflation stickiness in today's economy. 50:32 - Unexplored insights: What's being overlooked? 55:33 - Debating the debt spiral scenario. 55:33 - From problem talk to finding solutions. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Macro Alf's Website and Content. Macro Alf's Twitter. Related episode: Listen to TIP495: The Changing Composition of Money w/ Alfonso Peccatiello, or watch the video. Related episode: Listen to MI232: Understanding Quantitative Easing w/ Alfonso Peccatiello, or watch the video. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today! SPONSORS Have peace of mind knowing River holds Bitcoin in multi-sig cold storage with 100% full reserves. If you’re aware you need to improve your bitcoin security but have been putting it off, Unchained Capital's Concierge Onboarding is a simple way to get started—sooner rather than later. Book your onboarding today and at checkout, get $50 off with the promo code FUNDAMENTALS. Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with EquityMultiple. Get the professional support you need to prepare for your future career with UBC Sauder School of Business. What does happen when money and big feelings mix? Tune in to find out on the new podcast, Open Money, presented by Servus Credit Union. Set, track, and manage your financial goals as your life evolves with Scotia Smart Investor. Make connections, gain knowledge, and uplift your governance CV by becoming a member of the AICD today. Let an expert do your taxes from start to finish so you can relax with TurboTax. Apply for the Employee Retention Credit easily, no matter how busy you are, with Innovation Refunds. Have Commonwealth Private's Private Bankers take the time to understand your goals and tailor solutions that create less for you to do and more for you to enjoy. Support our free podcast by supporting our sponsors. HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

On today’s episode, Clay sits down with Shawn O’Malley to provide an update on the banking crisis. For months, many have said that the Fed will continue hiking interest rates until “something breaks”. Shawn breaks down why it feels like the Fed broke something, and what it means for investors. Shawn is the chief editor and writer of our daily financial markets and investing newsletter. He aims to bring a value investor’s perspective to understanding current events. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 00:07:18 - What led to the recent bank failures of Silvergate, Silicon Valley Bank, and Signature. 000:16:03 - How the Federal Reserve responded to prevent a collapse of the banking system. 00:18:07 - How each crisis is setting a precedent and making impacts in the crises that proceed it. 00:30:19 - Why Credit Suisse was forced to sell to UBS for pennies on the dollar. 00:33:27 - What the recent drop in treasury yields means for markets. 00:46:43 - How investors can prepare themselves for this difficult economic environment. 00:52:05 - How investors should view money market funds in light of recent events. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Follow Shawn on Twitter. Tune into our previous episode covering The Joys of Compounding. Check out our recent episode covering Mark Leonard's Letters and Constellation Software. Follow Clay on Twitter. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today! SPONSORS Have peace of mind knowing River holds Bitcoin in multi-sig cold storage with 100% full reserves. If you’re aware you need to improve your bitcoin security but have been putting it off, Unchained Capital's Concierge Onboarding is a simple way to get started—sooner rather than later. Book your onboarding today and at checkout, get $50 off with the promo code FUNDAMENTALS. Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with EquityMultiple. Get the professional support you need to prepare for your future career with UBC Sauder School of Business. What does happen when money and big feelings mix? Tune in to find out on the new podcast, Open Money, presented by Servus Credit Union. Set, track, and manage your financial goals as your life evolves with Scotia Smart Investor. Make connections, gain knowledge, and uplift your governance CV by becoming a member of the AICD today. Let an expert do your taxes from start to finish so you can relax with TurboTax. Apply for the Employee Retention Credit easily, no matter how busy you are, with Innovation Refunds. Have Commonwealth Private's Private Bankers take the time to understand your goals and tailor solutions that create less for you to do and more for you to enjoy. Support our free podcast by supporting our sponsors. HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

On today’s show, Stig Brodersen talks with co-host William Green, the author of “Richer, Wiser, Happier.” They discuss what has made them Richer, Wiser, or Happier in the past quarter.IN THIS EPISODE YOU’LL LEARN:00:00 - Intro02:31 - How to think about investing with an asset manager that yields a lower return and has good values, or an asset manager with a higher return and bad values.27:35 - The role of money vs. happiness for billionaires.48:55 - What Stig and William learned from Ray Dalio.54:51 - Why pain + reflection = progress.1:25:16 - What Stig and William learned from Charlie Munger.1:44:22 - Why William bought Alibaba and Seritage Growth Properties. 1:53:09 - Which investing books made it to the top 5 for Stig and William for Q1 2023, and why.Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.BOOKS AND RESOURCESListen to Stig Brodersen and William Green’s episode on Money and Happiness or watch the video.Listen to William Green’s interview with Ray Dalio or watch the video.Tune in to William Green’s interview with Fred Martin about being a disciplined growth investor or watch the video.William Green’s book Richer, Wiser, Happier – read reviews of this book.Fred Martin’s book, Benjamin Graham and the Power of Growth Stocks – read reviews of this book.Bruce Greenwald’s book, Competition Demystified – read reviews of this book.Joel Tillinghast’s book, Big Money Thinks Small – read reviews of this book.Ray Dalio’s book, Your Guided Journal – read reviews of this book.Aswath Damodaran’s book, The Little Book of Valuation – read reviews of this book.Gautam Baid’s book, The Joys of Compounding – read reviews of this book.Q&A with Charlie Munger from the DIJO meeting. Watch the trailer for Free Solo.NEW TO THE SHOW?Check out our We Study Billionaires Starter Packs.Browse through all our episodes (complete with transcripts) here.Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSHave peace of mind knowing River holds Bitcoin in multi-sig cold storage with 100% full reserves.Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with EquityMultiple.Let an expert do your taxes from start to finish so you can relax with TurboTax.Have Commonwealth Private's Private Bankers take the time to understand your goals and tailor solutions that create less for you to do and more for you to enjoy.What does happen when money and big feelings mix? Tune in to find out on the new podcast, Open Money, presented by Servus Credit Union.Get the professional support you need to prepare for your future career with UBC Sauder School of Business.Make connections, gain knowledge, and uplift your governance CV by becoming a member of the AICD today.Get yourself a Blockstream Jade -- An all-in-one, bitcoin-only hardware wallet that makes protecting your bitcoin so easy. Use the coupon code Fundamentals to get 10% off.Set, track, and manage your financial goals as your life evolves with Scotia Smart Investor.Support our free podcast by supporting our sponsors.HELP US OUT!Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Trey brings back TIP fan favorite, Mr. Ian Formigle. Together they discuss the future of office and retail, the risks of capital calls in a downward market, and much more. Ian is the Chief Investment Officer of Crowdstreet and our go-to expert on all things real estate, especially commercial real estate.  IN THIS EPISODE, YOU'LL LEARN: 00:00 - Intro 08:32 - DIan’s outlook for 2023, especially as it pertains to the risks surrounding bank failures and other illiquidity issues. 15:01 - How interest rates and cap rates affect one another. 18:58 - Which asset class has the most upside opportunity at the moment and which strategies will be most optimal.  35:05 - Ian’s predictions on the future of office and retail.  01:18:35 - The risks of capital calls, especially in a downward market. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Related Episode: TIP423: Real Estate Update w/ Ian Formigle, or watch the video. Related Episode: TIP337: How to Identify Value in Commercial Real Estate w/ Ian Formigle, or watch the video. Check out Crowdstreet. Trey Lockerbie's Twitter. Ian Formigle's Twitter. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today! SPONSORS Have peace of mind knowing River holds Bitcoin in multi-sig cold storage with 100% full reserves. Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with EquityMultiple. Let an expert do your taxes from start to finish so you can relax with TurboTax. Have Commonwealth Private's Private Bankers take the time to understand your goals and tailor solutions that create less for you to do and more for you to enjoy. What does happen when money and big feelings mix? Tune in to find out on the new podcast, Open Money, presented by Servus Credit Union. Get the professional support you need to prepare for your future career with UBC Sauder School of Business. Make connections, gain knowledge, and uplift your governance CV by becoming a member of the AICD today. Get yourself a Blockstream Jade -- An all-in-one, bitcoin-only hardware wallet that makes protecting your bitcoin so easy. Use the coupon code Fundamentals to get 10% off. Set, track, and manage your financial goals as your life evolves with Scotia Smart Investor. Support our free podcast by supporting our sponsors. HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Preston Pysh sits down with global macro and security intelligence thinker, Matthew Pines to talk about China and its deeply manipulated market conditions, Japan being a major choke point for international interest rates, central bank digital currencies, and many more interesting ideas. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 01:19 - How Matthew Pines became familiar with Bitcoin. 03:26 - Was the balance of payments between net producers and net consumers a reason why we have so many global issues? 07:29 - How often do companies Matthew consults with, bring up Bitcoin? 11:59 - What is the impact China is going to have from a geopolitical standpoint? 22:43 - How does Japan's interest rates underpin the rates around the world? 34:44 - How geopolitical decision are extremely complex and not made with just a monetary lens. 36:32 - What caused the dollar to change course in November? 49:10 - Why the US Treasury and FED may need private stable coin issuers instead of CBDCs. 01:00:54 - What is Matthew's take on the BIS and their proclamations against Bitcoin? 01:10:44 - How do we address Elected Officials to affect change? Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Matthew Pines on Twitter. BPI Bitcoin Lobbying. KSG Consulting. Matthew's Book: Expectation Value. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today! SPONSORS Have peace of mind knowing River holds Bitcoin in multi-sig cold storage with 100% full reserves. Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with EquityMultiple. Let an expert do your taxes from start to finish so you can relax with TurboTax. Have Commonwealth Private's Private Bankers take the time to understand your goals and tailor solutions that create less for you to do and more for you to enjoy. What does happen when money and big feelings mix? Tune in to find out on the new podcast, Open Money, presented by Servus Credit Union. Get the professional support you need to prepare for your future career with UBC Sauder School of Business. Make connections, gain knowledge, and uplift your governance CV by becoming a member of the AICD today. Get yourself a Blockstream Jade -- An all-in-one, bitcoin-only hardware wallet that makes protecting your bitcoin so easy. Use the coupon code Fundamentals to get 10% off. Set, track, and manage your financial goals as your life evolves with Scotia Smart Investor. Support our free podcast by supporting our sponsors. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

On today’s episode, Clay Finck continues his review of Gautam Baid’s book, The Joys of Compounding.  Gautam Baid is the Managing Partner and Fund Manager of Stellar Wealth Partners India Fund, a Delaware-based investment partnership which is available to accredited investors in the US. The fund is modeled after the Buffett Partnership fee structure and invests in listed Indian equities with a long-term, fundamental, and value-oriented approach. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:11 - The virtues of philanthropy and good karma. 06:24 - How we can simplify both our investments and our life. 14:45 - The importance of achieving financial independence. 21:42 - How Charlie Munger achieved financial independence. 26:28 - Why the key to success is delayed gratification. 29:20 - How we can properly assess a management team. 56:03 - The importance of using an investment checklist to avoid common mistakes. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Check out The Joys of Compounding. Tune into our previous episode covering The Joys of Compounding. Watch the video here. Check out our recent episode covering Mark Leonard's Letter's and Constellation Software. Watch the video here. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today! SPONSORS Have peace of mind knowing River holds Bitcoin in multi-sig cold storage with 100% full reserves. Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with EquityMultiple. Let an expert do your taxes from start to finish so you can relax with TurboTax. Have Commonwealth Private's Private Bankers take the time to understand your goals and tailor solutions that create less for you to do and more for you to enjoy. What does happen when money and big feelings mix? Tune in to find out on the new podcast, Open Money, presented by Servus Credit Union. Get the professional support you need to prepare for your future career with UBC Sauder School of Business. Make connections, gain knowledge, and uplift your governance CV by becoming a member of the AICD today. Get yourself a Blockstream Jade -- An all-in-one, bitcoin-only hardware wallet that makes protecting your bitcoin so easy. Use the coupon code Fundamentals to get 10% off. Set, track, and manage your financial goals as your life evolves with Scotia Smart Investor. Support our free podcast by supporting our sponsors. HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

William chats with renowned hedge fund manager Guy Spier. Since launching the Aquamarine Fund in 1997, Guy has beaten the S&P 500 by 200 percentage points & the MSCI World index by 364 percentage points. He’s also the author of “The Education of a Value Investor.” In this conversation, Guy speaks candidly about the challenges he’s facing, including his fear that Russia’s war in Ukraine could escalate, creating a systemic risk for investors. He explains how he’s positioning his portfolio to survive & prosper in these perilous times, & he shares practical advice on how to maintain equanimity amid all this uncertainty.IN THIS EPISODE YOU’LL LEARN:00:00 - Intro03:56 - How living in a calm & predictable environment helps Guy Spier to invest better.12:04 - How he resisted the temptation to buy overvalued tech stocks during the recent bubble.26:11 - Why we must beware of the psychological effects of rapidly rising or falling stock prices.30:04 - Why Guy refuses to invest in any business that can’t fund all of its growth internally.44:18 - How going to Berkshire Hathaway’s annual meeting helps to reinforce rational behavior.53:57 - What Warren Buffett told Guy Spier & Mohnish Pabrai about the perils of debt.1:13:04 - Why Guy regards the war in Ukraine as a potentially systemic threat to investors. 1:11:56 - Where he’s investing in order to survive & prosper in these times of heightened risk and why he’s invested heavily in China, despite the political & economic dangers.1:13:55 - Why he’s avoiding weaker countries, including Indonesia & the Philippines.1:15:01 - How he wrestles with the tricky question of whether to trim or hold his winners. 1:18:17 - Why he’ll never short another stock.1:19:31 - How he constructs a portfolio that helps him to maintain his emotional equilibrium.1:43:35 - Why he diverged from Mohnish on the risks & rewards of investing in Turkey.1:59:08 - What Guy & Mohnish have learned from the stunning success of their friend Li Lu.Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.BOOKS AND RESOURCESListen to William Green’s 2022 interview with Guy Spier on How to Build Enduring Wealth (RWH009) or watch the video.Listen to William’s 2022 interview with Guy on High-Performance Habits (RWH010) or watch the video.Listen to William’s interview with Ray Dalio on the “Richer, Wiser, Happier” podcast or watch the video.Guy Spier’s book, “The Education of a Value Investor” – Read reviews of the book.Guy Spier interviews William Green about his book, “Richer, Wiser, Happier.”Subscribe to Guy Spier’s Free Newsletter.Guy Spier’s podcast and website.William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.William Green’s Twitter.NEW TO THE SHOW?Check out our We Study Billionaires Starter Packs.Browse through all our episodes (complete with transcripts) here.Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.Learn how to better start, manage, and grow your business with the best business podcasts. P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSHave peace of mind knowing River holds Bitcoin in multi-sig cold storage with 100% full reserves.If you’re aware you need to improve your bitcoin security but have been putting it off, Unchained Capital's Concierge Onboarding is a simple way to get started—sooner rather than later. Book your onboarding today and at checkout, get $50 off with the promo code FUNDAMENTALS.Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with EquityMultiple.Get the professional support you need to prepare for your future career with UBC Sauder School of Business.Have Commonwealth Private's Private Bankers take the time to understand your goals and tailor solutions that create less for you to do and more for you to enjoy.Set, track, and manage your financial goals as your life evolves with Scotia Smart Investor.Let an expert do your taxes from start to finish so you can relax with TurboTax.Make connections, gain knowledge, and uplift your governance CV by becoming a member of the AICD today.Support our free podcast by supporting our sponsors.HELP US OUT!Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Trey invites Kristof Gleich, together they discuss a wide range of topics, including factor frameworks, advancements in behavior analytics, the qualities that set exceptional money managers apart, and more! Kristof is the President and CIO of Harbor Capital and is responsible for Harbor’s $40B of AUM invested in boutique managers from across the World. Prior to Harbor, Kristof worked at Goldman Sachs and JP Morgan. IN THIS EPISODE, YOU'LL LEARN: 0:00 - Intro 01:53 - How Kristof would summarize Q1 of 2023. 14:48 - How working with a wide array of managers helps inform his worldview. 26:52 - What makes a great money manager. 39:13 - Factor frameworks and innovation around behavior analytics.  63:34 - Why Active ETFs are having a huge surge in popularity, after years of indices ruling the investing world. 65:46 - The life lessons Kristof learned from spending over 2 hours with Bill Gross (aka the Bond King) just a short time after his infamous exit at PIMCO. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Harbor Capital Website. Harbor Capital Linkedin. Trey Lockerbie's Twitter. Kristof Gleich's Twitter. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today! SPONSORS Have peace of mind knowing River holds Bitcoin in multi-sig cold storage with 100% full reserves. If you’re aware you need to improve your bitcoin security but have been putting it off, Unchained Capital‘s Concierge Onboarding is a simple way to get started—sooner rather than later. Book your onboarding today and at checkout, get $50 off with the promo code FUNDAMENTALS. Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with EquityMultiple. Get the professional support you need to prepare for your future career with UBC Sauder School of Business. Have Commonwealth Private‘s Private Bankers take the time to understand your goals and tailor solutions that create less for you to do and more for you to enjoy. Set, track, and manage your financial goals as your life evolves with Scotia Smart Investor. Let an expert do your taxes from start to finish so you can relax with TurboTax. Make connections, gain knowledge, and uplift your governance CV by becoming a member of the AICD today. Support our free podcast by supporting our sponsors. HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Preston Pysh sits down with Steven McClurg, who’s the CIO at Valkyrie, and just an all-around brilliant macro thinker, to talk about the multiple bank failures, what it meant for the broader economy, Bitcoin, and more. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 03:03 - What are the three things the FED is currently considering? 26:15 - Why Silvergate, Signature, and Silicon Valley Bank are different than many other banks? 31:29 - What rules from the Global Financial Crisis are currently impacting regional banks? 52:26 - Is there a concerted effort by Wall Street and the government to remove onramps to Bitcoin exchanges? 54:36 - Steven's thoughts on Custodia's bank application with the FED being denied. 57:00 - What's going to happen with the GBTC suit with the SEC with respect to the ETF application? 01:05:29 - What impact has paper bitcoin had on the market to date and Steven's expectation into the future? Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Steven McClurg's Twitter. Steven McClurg's Company Valkyrie. Peter McCormack's interview with the GBTC CEO. Related episode: Listen to BTC112: Bitcoin Macro Mastermind 1st Q 2023 w/ Joe Carlasare, Steven McClurg, & Jeff Ross, or watch the video. Related episode: Listen to BTC088: FED Policy, Bitcoin Etfs, & Euro Dollar Impacts w/ Steven McClurg, or watch the video. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today! SPONSORS Have peace of mind knowing River holds Bitcoin in multi-sig cold storage with 100% full reserves. If you’re aware you need to improve your bitcoin security but have been putting it off, Unchained Capital's Concierge Onboarding is a simple way to get started—sooner rather than later. Book your onboarding today and at checkout, get $50 off with the promo code FUNDAMENTALS. Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with EquityMultiple. Get the professional support you need to prepare for your future career with UBC Sauder School of Business. Have Commonwealth Private's Private Bankers take the time to understand your goals and tailor solutions that create less for you to do and more for you to enjoy. Set, track, and manage your financial goals as your life evolves with Scotia Smart Investor. Let an expert do your taxes from start to finish so you can relax with TurboTax. Make connections, gain knowledge, and uplift your governance CV by becoming a member of the AICD today. Support our free podcast by supporting our sponsors. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

On today’s episode, Clay Finck reviews Gautam Baid’s book, The Joys of Compounding.  Gautam Baid is the Managing Partner and Fund Manager of Stellar Wealth Partners India Fund, a Delaware-based investment partnership which is available to accredited investors in the US. The fund is modeled after the Buffett Partnership fee structure and invests in listed Indian equities with a long-term, fundamental, and value-oriented approach. IN THIS EPISODE YOU’LL LEARN: 0:00 - Intro 05:54 - Why we should commit to lifelong learning. 14:49 - How mental models can help us make more rational and effective decisions. 16:53 - How understanding first principles can help us better understand the world around us. 18:06 - What the Feynman Technique is and how you can use it to learn anything well. 30:49 - What Warren Buffett and Bill Gates consider their most critical factor to their success. 31:51 - Why the best investors are those with a behavioral edge. 38:13 - Why the world’s most successful people choose the right role models to learn from. 42:16 - Why successful investing requires extreme humility. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Check out The Joys of Compounding. Check out our recent episode covering Mark Leonard’s Letter’s and Constellation Software. Watch the video here. Don’t miss our review of Joel Tillinghast’s book – Big Money Thinks Small. Watch the video here. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today! SPONSORS Have peace of mind knowing River holds Bitcoin in multi-sig cold storage with 100% full reserves. If you’re aware you need to improve your bitcoin security but have been putting it off, Unchained Capital's Concierge Onboarding is a simple way to get started—sooner rather than later. Book your onboarding today and at checkout, get $50 off with the promo code FUNDAMENTALS. Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with EquityMultiple. Get the professional support you need to prepare for your future career with UBC Sauder School of Business. Have Commonwealth Private's Private Bankers take the time to understand your goals and tailor solutions that create less for you to do and more for you to enjoy. Set, track, and manage your financial goals as your life evolves with Scotia Smart Investor. Let an expert do your taxes from start to finish so you can relax with TurboTax. Make connections, gain knowledge, and uplift your governance CV by becoming a member of the AICD today. Support our free podcast by supporting our sponsors. HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Stig brings back one of our most popular and thoughtful guests, investment expert Lyn Alden. Together, they discuss how the Fed went broke and what the implication is for us as investors.  IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:28 - What is on the balance sheet of the FED. 07:32 - Why the Fed should be profitable. 11:36 - Should central bankers be elected?  21:09 - Why Lyn is bullish on India and Brazil. 36:39 - Whether the commercial bank system will allow a central bank digital currency.  41:20 - How to build a monetary system for Argentina. 49:12 - How to build a portfolio optimizing for both sleeping well at night and independence.  54:00 - How do we know that what we know about financial markets is true. 58:40 - Why you’re too concentrated if you’re super excited about your portfolio. 1:01:50 - How to spend money to optimize for happiness. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Listen to our interview with Lyn Alden about Macro and the energy market or watch the video. Listen to our interview with Lyn Alden about Money or watch the video. Listen to our interview with Lyn Alden about Gold and Commodities or watch the video. Lyn Alden's free website. Lyn Alden's premium newsletter. Lyn Alden’s blog post, Energy: Area Under the Curve. Lyn Alden’s blog post, How the Fed went broke. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today! SPONSORS Talk to your clients about Desjardins Responsible Investment today and support what’s right for society and what’s good for business. Take advantage of the mid-market exchange rate whenever you convert or spend different currencies and enjoy no markups and no hidden fees with Wise. Let an expert do your taxes from start to finish so you can relax with TurboTax. Get an overall better student loan experience with College Ave. Plus, get a chance to win a $1,000 college scholarship. No purchase is required. Discover the easier way to help diversify your investment portfolio with CrowdStreet. Get the professional support you need to prepare for your future career with UBC Sauder School of Business. Get yourself a Blockstream Jade -- An all-in-one, bitcoin-only hardware wallet that makes protecting your bitcoin so easy. Use the coupon code Fundamentals to get 10% off. Set, track, and manage your financial goals as your life evolves with Scotia Smart Investor. Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with EquityMultiple. Support our free podcast by supporting our sponsors. HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Trey chats with Dr. Graeme Forster. Together they discuss the success of legendary investors such as Jim Simons & Orbis' founder Allan Gray, Graeme's shift from mathematics to value investing, and much more! Graeme is the Director and Portfolio Manager of Orbis, which currently manages around $30B.  IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:30 - Graeme’s journey from mathematics to value investing, & exploring legendary investors like Jim Simons. 26:14 - How Orbis’ founder and billionaire Allan Gray’s investing flexibility led to his success. 36:35 - How Graeme balances the macro with a bottoms up approach. 52:11 - A thesis which Graeme calls the Great Misallocation.  58:40 - How good & cheap companies outperform especially during bear markets. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES The Theory of Poker by David Sklansky. Fooled by Randomness by Nassim Nicholas Taleb. The Price of Time by Edward Chancellor. The Psychology of Money by Morgan Housel. Trey Lockerbie's Twitter. Check out: Orbis. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today! SPONSORS Talk to your clients about Desjardins Responsible Investment today and support what’s right for society and what’s good for business. Take advantage of the mid-market exchange rate whenever you convert or spend different currencies and enjoy no markups and no hidden fees with Wise. Let an expert do your taxes from start to finish so you can relax with TurboTax. Get an overall better student loan experience with College Ave. Plus, get a chance to win a $1,000 college scholarship. No purchase is required. Discover the easier way to help diversify your investment portfolio with CrowdStreet. Get the professional support you need to prepare for your future career with UBC Sauder School of Business. Get yourself a Blockstream Jade -- An all-in-one, bitcoin-only hardware wallet that makes protecting your bitcoin so easy. Use the coupon code Fundamentals to get 10% off. Set, track, and manage your financial goals as your life evolves with Scotia Smart Investor. Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with EquityMultiple. Support our free podcast by supporting our sponsors. HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Preston Pysh takes his top five favorite moments and lessons learned about Bitcoin since starting the Bitcoin Fundamentals Podcast in 2020.  IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 00:56 - Preston's 1st pick: Michael Saylor describing the importance of inflation being a vector 21:28 - Preston's 2nd pick: Pablo Fernandez talking about how CBDC will drive a wedge between producers and consumers 31:34 - Preston's 3rd pick: Cory Klippsten describing in detail how the alt coin / Silicon Valley VC game is a professional scam 39:16 - Preston's 4th pick: Alex Gladstein describing how the IMF and World Bank cause debt slavery for developing countries around the world. 58:22 - Preston's 5th pick: Gigi, Michael Saylor, and Jeff Booth describe the difference between Proof of Work and Proof of Sake and the ESG lie. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Full interviews: Listen to Michael Saylor's Masterclass in Economics, or watch the video. Listen to Pablo Fernandez's full interview on CBDC, or watch the video. Listen to Cory Klippsten's full interview on Altcoins and Silicon Valley VCs, or watch the video. Listen to Alex Gladstein's full interview on the IMF and World Bank, or watch the video. Alex Gladstein's Article on the IMF and World Bank. Full interviews on Energy and ESG: Listen to Gigi's PoW Interview, or watch the video. Listen to Michael Saylor's Energy Interview, or watch the video. Listen to Jeff Booth's Energy Interview, or watch the video. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today! SPONSORS Talk to your clients about Desjardins Responsible Investment today and support what’s right for society and what’s good for business. Take advantage of the mid-market exchange rate whenever you convert or spend different currencies and enjoy no markups and no hidden fees with Wise. Let an expert do your taxes from start to finish so you can relax with TurboTax. Get an overall better student loan experience with College Ave. Plus, get a chance to win a $1,000 college scholarship. No purchase is required. Discover the easier way to help diversify your investment portfolio with CrowdStreet. Get the professional support you need to prepare for your future career with UBC Sauder School of Business. Get yourself a Blockstream Jade -- An all-in-one, bitcoin-only hardware wallet that makes protecting your bitcoin so easy. Use the coupon code Fundamentals to get 10% off. Set, track, and manage your financial goals as your life evolves with Scotia Smart Investor. Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with EquityMultiple. Support our free podcast by supporting our sponsors. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

On today’s episode, Clay Finck does a deep dive into Constellation Software (Ticker: $CSU).  Constellation Software is a Canadian holding company that has acquired over 600 vertical market software businesses. The company was founded by Mark Leonard, and has delivered exceptional returns to shareholders since their IPO in 2006. The stock has had an average annual return of over 34% from 2006 through the end of 2022. If you are like Clay and enjoy learning about high-quality businesses, then you won’t want to miss this episode. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 03:01 - What makes Constellation such a high-quality business. 08:32 - The similarities between Mark Leonard and Warren Buffett. 09:57 - What Constellation’s business model is. 19:32 - How Constellation garnered a reputation that founders are more than willing to sell to. 21:39 - Clay’s takeaways from reading Mark Leonard’s shareholder letters. 42:21 - How Clay views the valuation of Constellation Software today. 44:10 - Why Clay took a position in Constellation Software to hold for the long-term. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Mark Leonard’s Letters. Chris Mayer’s blog post on Constellation Software. The 10th Man Blog. Don’t miss our review of Joel Tillinghast's book - Big Money Thinks Small. Watch the video here. Check out Clay’s episode covering legendary British Investor Terry Smith. Watch the video here. Follow Clay on Twitter. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today! SPONSORS Talk to your clients about Desjardins Responsible Investment today and support what’s right for society and what’s good for business. Take stock of your finances and investing strategy with Betterment. Get an overall better student loan experience with College Ave. Plus, get a chance to win a $1,000 college scholarship. No purchase is required. Set, track, and manage your financial goals as your life evolves with Scotia Smart Investor. Let an expert do your taxes from start to finish so you can relax with TurboTax. Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with EquityMultiple. Support our free podcast by supporting our sponsors. HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Trey invites Richard Wilson. Together, they discuss his top 5 favorite books written by billionaires and tease out the lessons from each one. Richard is the Founder and CEO of The Family Office Club, which is the #1 family office association with over 4,000 registered family offices. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:02 - What a family office is and how it works. 16:53 - The first thing you should focus on when setting one up. 46:54 - Key lessons from Richard’s top 5 billionaire books. 54:14 - Insights from billionaire keynotes from his events, including Jeff Hoffman, Grant Cardone and others. 58:09 - The strategies that Richard finds most useful. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Visit The Family Office Club Website. Check out: Billionaires.com. Visit The Investors Club Website. Related Episode:  Secrets from a Private Billionaire Club w/ Michael Sonnenfeldt - TIP525  or watch the video. Richard Wilson's Twitter. Trey Lockerbie's Twitter. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today! SPONSORS Talk to your clients about Desjardins Responsible Investment today and support what’s right for society and what’s good for business. Take stock of your finances and investing strategy with Betterment. Get an overall better student loan experience with College Ave. Plus, get a chance to win a $1,000 college scholarship. No purchase is required. Set, track, and manage your financial goals as your life evolves with Scotia Smart Investor. Let an expert do your taxes from start to finish so you can relax with TurboTax. Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with EquityMultiple. Support our free podcast by supporting our sponsors. HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Preston Pysh is joined by Bitcoin miner, investor and strategic thinker, Harry Sudock. They talk about the current status of the mining industry and how they're dealing with an all-time high hash rate combined with prices that are still significantly down. Harry shares his thoughts on the ever-changing policy and legal rules around Bitcoin and Bitcoin mining, and much more. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 01:28 - Harry's thoughts on the massive amount of hash rate that has recently come onto the Bitcoin network. 06:37 - Some considerations that many don't understand about the mining sector that make it so difficult to compete globally. 14:41 - Harry's thoughts on policy and legal changes in the United States. 22:09 - Why companies like Shell are now the primary sponsor of the Bitcoin Miami conference. 25:11 - What is the biggest road block preventing them from actioning such a strategy? 27:25 - What is it going to take to get more energy companies buying Bitcoin infrastructure to strengthen their earnings and delivery of power to the grid? 30:50 - A discussion around Trey Kelly's letter to the TVA power company. 34:13 - Harry's thoughts on Nuclear energy and its impact moving forward. 39:35 - Home mining and why it's so difficult. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Harry's Twitter. Harry's Nostr. Trey Kelly's letter to the TVA. Grid Mining. Related Episode: Listen to BTC036: Bitcoin Mining w/ Harry Sudock, or watch the video. Related Episode: Listen to BTC014: Bitcoin Mining and Energy w/ Marty Bent & Harry Sudock, or watch the video. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today! SPONSORS Talk to your clients about Desjardins Responsible Investment today and support what’s right for society and what’s good for business. Take stock of your finances and investing strategy with Betterment. Get an overall better student loan experience with College Ave. Plus, get a chance to win a $1,000 college scholarship. No purchase is required. Set, track, and manage your financial goals as your life evolves with Scotia Smart Investor. Let an expert do your taxes from start to finish so you can relax with TurboTax. Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with EquityMultiple. Support our free podcast by supporting our sponsors. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

On today’s episode, Clay Finck reviews Joel Tillinghast’s book, Big Money Thinks Small, and does analysis on two companies built around acquisitions - Brown and Brown Insurance and Constellation Software. Joel is an incredible long-term investor as he has consistently outperformed the market and currently manages around $70 billion at Fidelity. Peter Lynch, who hired Joel at Fidelity, has described Joel as “one of the greatest, most successful stock pickers of all time.” IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 06:04 - Why some level of speculation is required in every investment. 08:07 - What speculations are acceptable in Joel Tillinghast’s conservative investment approach. 10:34 - What you need to understand about a company prior to investing. 13:02 - Why Tillinghast avoids investing in gold. 20:20 - Why investing in countries with the fastest GDP growth rate isn’t a wise investment strategy. 29:52 - Clay’s insights into two acquisition-focused companies - Brown and Brown Insurance and Constellation Software. 37:27 - Why Constellation Software may be worth further investigation for stock pickers interested in high quality businesses. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Joel Tillinghast’s book Big Money Thinks Small. Newsletter: The Risks in Owning Chinese Equities. Listen to Trey’s Interview with Josh Young Covering Oil, or watch the video. Chris Mayer’s blog post on Constellation Software. Check out Clay’s episode covering legendary British Investor Terry Smith. Watch the video here. Don’t miss our review of Four Wide Moat Stocks for 2023. Watch the video here. Follow Clay on Twitter. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today! SPONSORS Talk to your clients about Desjardins Responsible Investment today and support what’s right for society and what’s good for business. Take stock of your finances and investing strategy with Betterment. Get an overall better student loan experience with College Ave. Plus, get a chance to win a $1,000 college scholarship. No purchase is required. Set, track, and manage your financial goals as your life evolves with Scotia Smart Investor. Let an expert do your taxes from start to finish so you can relax with TurboTax. Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with EquityMultiple. Support our free podcast by supporting our sponsors. HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Stig speaks to Tobias Carlisle and Hari Ramachandra. Stig only owns five individual stocks, and in this episode, he outlines why he added Spotify as the newest addition to his portfolio. Hari’s pick, Disney, has recently been extremely volatile, and Tobias pitches Amgen, a value stock with strong downside protection in uncertain times. IN THIS EPISODE YOU’LL LEARN: 0:00 - Intro 01:24 - Why Hari is bullish on Disney (Ticker: DIS) 34:39 - Why Stig has invested in Spotify (Ticker: SPOT) as one of the five stocks he owns 1:00:46 - Why Toby is bull on Amgen (Ticker: AMGN) 1:31:18 - Whether Chatbot GPT will disrupt Google’s wide moat.  Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Meet up with Stig, Toby, and Hari at the TIP events at the Berkshire Hathaway Annual Shareholder’s meeting.   Listen to Mastermind Discussion Q1 2022 - TIP418 or watch the video. Listen to Mastermind Discussion Q2 2022 - TIP450 or watch the video.   Listen to Mastermind Discussion Q3 2022 - TIP475 or watch the video. Listen to Mastermind Discussion Q4 2022 - TIP496 or watch the video. Our FREE stock analysis resource, Intrinsic Value Index. Subscribe to our FREE Intrinsic Value Assessments. Tobias Carlisle's podcast, The Acquires Podcast. Tobias Carlisle's ETF, ZIG. Tobias Carlisle's ETF, Deep. Tobias Carlisle's book, The Acquirer's Multiple – read reviews of this book Tobias Carlisle's Acquirer's Multiple stock screener: AcquirersMultiple.com. Tweet directly to Tobias Carlisle.  Hari's Blog: BitsBusiness.com Tweet directly to Hari Ramachandra. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts.  P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!  SPONSORS Talk to your clients about Desjardins Responsible Investment today and support what’s right for society and what’s good for business. Take stock of your finances and investing strategy with Betterment. If your business has five or more employees and managed to survive Covid you could be eligible to receive a payroll tax rebate of up to twenty-six thousand dollars per employee. Find out if your business qualifies with Innovation Refunds. Let an expert do your taxes from start to finish so you can relax with TurboTax. Enjoy a hardware wallet designed for your whole Bitcoin journey with Blockstream Jade. Use coupon code Fundamentals to get 10% off. Get an overall better student loan experience with College Ave. Plus, get a chance to win a $1,000 college scholarship. No purchase is required. Support our free podcast by supporting our sponsors. HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Trey talks to New York Times bestselling author William Cohan about GE's history, including founder Thomas Edison, Jack Welch's controversial career & successes, Warren Buffett's investment on GE, and much more! William Cohan's latest book, titled "Power Failure: The Rise and Fall of an American Icon," chronicles the incredible history of General Electric, which was often the largest and most esteemed company in the world over its 130-year existence. IN THIS EPISODE YOU’LL LEARN: 0:00 - Intro 07:31 - The origin story of GE, starting with founder Thomas Edison with backing from JP Morgan. 11:19 - Why Charlie Coffin might be the best CEO of all time. 23:54 - The dark side of Jack Welch and his career at GE, as well as the many successes. 56:37 - How Jeff could have saved the company by listening to Bill Gross and Jim Grant. 59:55 The debate on whether Jack handed his successor, Jeff Immelt, a “royal flush” or an open grenade.  63:49 - Warren Buffett’s bet on the company. 63:15 - Why the company has now been deconstructed into 3 separate entities. 67:18 - The many cycles that repeated over its 130 year history. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Visit William Cohan website. Check out Power Failure book. Check out GE website. Trey Lockerbie's Twitter. William Cohan's Twitter. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts.  P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!  SPONSORS  Talk to your clients about Desjardins Responsible Investment today and support what’s right for society and what’s good for business. Take stock of your finances and investing strategy with Betterment. If your business has five or more employees and managed to survive Covid you could be eligible to receive a payroll tax rebate of up to twenty-six thousand dollars per employee. Find out if your business qualifies with Innovation Refunds. Let an expert do your taxes from start to finish so you can relax with TurboTax. Enjoy a hardware wallet designed for your whole Bitcoin journey with Blockstream Jade. Use coupon code Fundamentals to get 10% off. Get an overall better student loan experience with College Ave. Plus, get a chance to win a $1,000 college scholarship. No purchase is required. Support our free podcast by supporting our sponsors. HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.